Tumor Necrosis Factor Inhibitor Drugs Market is Driven by Increasing Disposable Income and Augmented Spending on Healthcare
Global Tumor Necrosis Factor Inhibitor Drugs Market: Overview
Tumor necrosis factor or TNF refers to a multifunctional protein cytokine that is produced by immune cells. This protein cytokine causes inflammation in body and has an important role to play in many of the cellular functions such as death, survival, differentiation, and cell proliferation. Tumor necrosis factor inhibitors subdue innate response of the body toward tumor necrosis factor.
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Tumor necrosis factor inhibitors are drugs that assist in stopping inflammation in the body. These drugs are utilized in the treatment of various diseases, such as Crohn’s disease, ulcerative colitis, ankylosing spondylitis, plaque psoriasis, psoriatic arthritis, juvenile arthritis, and rheumatoid arthritis. They are also otherwise known as anti-TNF drugs, biologic therapies, and TNF blockers. Food and Drug Administration of the US has approved many TNF inhibitors for use.
Product, application, sales channel, and region are the four important parameters based on which the classification of the global tumor necrosis factor inhibitor drugs market has been done. Such dissection of the market comes with the purpose to offer stakeholders with a detailed and clear analysis of the global tumor necrosis factor inhibitor drugs market.
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Global Tumor Necrosis Factor Inhibitor Drugs Market: Notable Developments
One of the recent market developments that offers a glimpse of the market dynamics at play in the global tumor necrosis factor inhibitor drugs market is mentioned below:
In May 2019, Food and Drug Administration of the US gave its nod for use of Eticovo (SB4), a biosimilar by South Korea-based Samsung Bioepis Co., Ltd. It is a second biosimilars of the Enbreland and is used in the treatment of ankylosing spondylitis, plaque psoriasis, psoriatic arthritis, polyarticular juvenile idiopathic arthritis, and rheumatoid arthritis.
Some of the prominent organizations in the global tumor necrosis factor inhibitor drugs market include:
- Johnson & Johnson Services, Inc
- Pfizer, Inc.
- Merck & Co., Inc.
- Novartis International AG
- Amgen Inc.
- UCB S.A.
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Global Tumor Necrosis Factor Inhibitor Drugs Market: Key Trends
The global tumor necrosis factor inhibitor drugs market is characterized by the presence of the following restraints, drivers, and opportunities.
Rise of Biosimilars to Pose Serious Internal Challenge to the Growth of the Market
The growth of the global tumor necrosis factor inhibitor drugs market is likely to be influenced by several factors. These growth factors for the market comprise increasing disposable income, augmented spending on healthcare, new product launches, growing geriatric population, increased prevalence of autoimmune disorders, and rise in the awareness level of people about these drugs. In addition, there has been a trend amongst consumers to opt for cost effective drugs with better safety and effectiveness is likely to drive the demand for tumor necrosis factor inhibitor drugs in the years to come.
The biologics prevalent in the global tumor necrosis factor inhibitor drugs market is faced with a direct internal threat from biosimilars. Loss of patent exclusivities across many regions of the world has worked in favor of the use of biosimilars. In addition to that, stiff competition from Interleukin (IL) inhibitors is likely to pose serious challenge to the growth of the global tumor necrosis factor inhibitor drugs market over the period of assessment.
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Global Tumor Necrosis Factor Inhibitor Drugs Market: Geographical Analysis
In the global tumor necrosis factor inhibitor drugs market, North America accounts for a major share of the market and is expected to continue with regional dominance throughout the assessment period. There have been increased commercial sales of tumor necrosis factor inhibitor drugs in the US, which is likely to play an important role in the growth of the regional market. In addition, favorable reimbursement policies, presence of key manufacturers, proactive government initiatives and presence of a large pool of patients are likely to work in favor of the tumor necrosis factor inhibitor drugs market in North America.
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